Key Insights on Kenya and Africa from Appsflyer’s 2021 State of Finance App Marketing Report.

  • Finance app installs surged in Sub-Saharan Africa starting in Q2 2020 with Nigeria climbing +160%, Kenya up 100%, and South Africa rising by 52% (the latter part of continued growth since Q1 2019).
  • Sub-Saharan Africa has seen marketing rise in Nigeria (+150% since Q2 2020) and South Africa (+33% since Q1 2020); however, Kenya is no longer on marketers’ radars, dropping more than 80% in the past two years. This trend in Kenya is probably due to many mobile loan app operators changing their loan approval process which used to be done in a matter of seconds or minutes, and now takes days in some instances. However, due to high default rates and regulation, many scaled back massively, meaning they stopped mobile app advertising altogether.
  • Numbers are particularly high in Sub-Saharan Africa where fierce competition has driven apps to employ aggressive marketing tactics in this red hot market.
  • 77% drop in the app install fraud rate in Africa between Q1 2021 and Q2 2020. This is actually a good thing!
  • 29% of mobile app installers registered within 30 days post-install; Africa recorded an impressive 69% registration rate in loan apps. We love loan apps in Africa it seems with such a high registration rate!
  • US$ 128K was spent by the average finance app on user acquisition in EMEA in Q1 2021; climbing 74% since Q2 2020 following a cost per install (CPI) rise; Africa jumped to US$ 73K. Much of this growth seems to be coming from Nigeria during this period.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store